Mainstream Media: "Duh economy beez booming, citizen! bidenomics is faaaabulous!"

I'll bet you the drink of your choice that most Americans have never heard of a thing called "Household Pulse Surveys (HPS).  Those are done regularly by the Census Bureau, asking respondents about their family's spending and debt, employment, anxiety, and the effects of natural disasters.

One of the most important questions asks Americans if they're having trouble paying for normal household expenses.  

In January 2021, the last month before biden was installed, the survey estimated that 80.53 million Americans found it “somewhat” or “very” difficult to pay normal household expenses.

According to the most recent HPS survey, conducted just last month (July 2023), that number is now 86.92 million, an increase of more than 6 million.

Democrat: "Dat not true!!  Dat 'fake newz'!!  Disinformation from right-wing extremists!"

Dude, the Census Bureau isn't a right-wing org.  It's run by the same leftist Deep-State assholes who run the entire government.

Democrat: [huffily]  "In that case the so-called study is flawed some way!  It don't mean nuffin'.  Cuz duh NY Times and WaPo and MSNBC and CNN and the alphabet nets say duh economy beez BOOMING!  So we order you to ignore dis silly, flawed 'study'."

Classic Democrat defense: "You must ignore anything we tell you to ignore!"

And there, folks, is why you've never heard of the HPS before: When Trump was in office it showed things getting better, but now the exact same survey they've always used shows things are getting worse, and in both cases the Mainstream Media didn't--and doesn't--want you to know.

The next telling finding in the HPS is that just over half of those who reported having trouble paying normal bills were in the $50,000 to $150,000 income brackets--people considered solidly “middle class.”  So a good question is why.  Since the officially-reported unemployment is supposedly low, the trouble would seem to be rising costs, due to inflation.

Wait, the Mainstream Media constantly tells ya inflation is "no longer a concern" due to duh wonderz of bidenomics, eh?

The HPS survey data further suggests that Americans having trouble paying their bills are putting bills on high-interest credit cards or taking out personal loans.  Both will cost Americans more to repay, putting borrowers further in the hole, just delaying it.  For example, newer credit cards are charging 18% interest!  Are you kidding??

In July of 2022 the HPS survey showed an estimated 74.89 million Americans relied on “credit cards or loans” to pay normal bills.”  But in the month just ended (July 2023) this number had soared to 85.46 million--an increase of 14%.

For those of you who don't work with numbers every day, for this category to increase this much in one year is a disaster.  If those surveyed can't cover expenses now, how do ya think they'll be able to pay future expenses PLUS the interest on the cards or loans?  Can't happen without cutting expenses.

And sure enough, the credit card delinquency rate has increased in each of the past seven quarters.  (Porridgebrain has only been preznit for a bit over 10 quarters, and it took him a quarter or two for his and the Dems' policies to start destroying the economy.)  Auto loan delinquencies are also above pre-biden levels.

57 percent of Americans say they can’t afford to cover an unexpected expense of $1,000.  Fortunately obozo got millions of Americans to sign up for obozocare, meaning health emergencies will be paid for by someone else.  Oh wait, the insured must pay a deductible of $5,000 or so for most plans.  And 57 percent of American families say they can't do that.  So who pays that?

Every Mainstream Media outlet tells you the economy is booming--a golden age of prosperity, eh?  But carefully hidden surveys that contradict that bullshit--like the HPS--tell a far different story.

Democrat: "But the stock market is near a record high!  So neener neener neener!  You just a stupid doody-head!"

If unemployment is close to all-time lows--as the Labor Department claims--the inference is that massive layoffs--firings, job losses--aren't the cause.  But then what IS causing these problems?  Inflation, caused by the biden regime spending trillions in borrowed money, effectively printing huge amounts of money.  Econ-101 says if you print more money, you get inflation, because more money is chasing the same output of goods, effectively bidding the price up.

Republicans are certainly part of the problem, because they went along with biden policies, agreeing to massive and unnecessary Covid spending programs such as sending checks to millions of Americans who never lost their jobs during the pandemic.  And they failed to reform wasteful entitlement programs in 2017 and 2018, when they last had control of Congress and the White House.  And the trillions of dollars in wasteful spending allowed hundreds of billions in pure fraud, like the vaunted "Paycheck Protection Program."  The stories of fraud there are sickening.

But take something everyone who doesn't live in a big Dem city understands: People in small towns have to drive, and buy gasoline.  The average price of unleaded gas is 53% higher than when Biden first took office.  The price of a gallon of milk increased by 23 percent from 2020 to the end of 2022.  All food, on average, costs 14% more than when biden was installed.

Higher prices, struggling families, more outrageously costly credit-card debt, higher delinquencies on both credit-card and auto loans.  That’s what “bidenomics” really looks like.  But duh economy beez booming, eh?